Jornaya's Insurance Market Leader, Jeff Piotrowski, shares in an article published in NU Property & Casualty, how the pandemic has reshaped the insurance industry with a faster than expected shift to digital, due to an unprecedented increase in online shopping activity.
Case in point: Online comparison shopping for auto insurance nearly doubled from 2019 to 2021, and online shopping for home insurance is up 30% from 2019.
This shift has created more savvy shoppers and heightened the need for improved customers experiences. When consumers are actively shopping, they want to hear from insurance providers, but only at the right time and with a focused message. This is why innovative marketers are leaning on companies that provide specialized data analytics to help enrich their customer insights.
A September Capco survey of nearly 14,000 consumers across 13 global markets found six out of 10 respondents (57%) want a better online experience from their insurer.
It’s noted that a joint study with Forrester found that companies that utilize data enhancements and insights on highly considered consumer purchase journeys can better monitor and act on shopper behavior.
To learn more about how insurance marketers are building a deep and distinct view of consumer shopping behaviors, read the complete article in the Jan/Feb 2022 issue of National Underwriter Property & Casualty.